SecondFi: Security incident affects about 16 million ADA, issue stems from web wallet generation software

CoinFeed June 24 news, Cardano ecosystem project SecondFi released a security incident update, stating that the root cause has been identified and the issue is limited to its native Cardano web wallet generation software. Preliminary estimates put the total impact at about 16 million ADA (currently approximately $2.42 million). The team has completed on-chain analysis and is conducting an independent technical review with a blockchain security firm to verify the results. The platform remains in security maintenance mode, and a full snapshot of balances has been taken. For affected users, the team has taken extraordinary measures to protect remaining assets and will work to compensate.